Binance is temporarily pausing some services in the EU because it did not manage to obtain MiCA licenses before the deadline of July 1. The company said it will continue to apply for a license in another EU country, and users’ assets remain safe.
Binance has sent emails to customers in some EU countries informing them that it will stop accepting new registrations and limit certain services because it does not yet have the required MiCA authorization.
Previously, Binance withdrew its application for a license in Greece and is now planning to apply for a license in France to continue operating in Europe.
Under the EU’s MiCA regulations, starting July 1, crypto companies that want to provide services across the entire European Union must have a license from at least one member state. If they do not have a license, companies will have to scale back or stop operating in the EU.
Binance has sent emails to customers in some EU countries informing them that it will stop accepting new registrations and limit certain services because it does not yet have the required MiCA authorization.
Previously, Binance withdrew its application for a license in Greece and is now planning to apply for a license in France to continue operating in Europe.
Under the EU’s MiCA regulations, starting July 1, crypto companies that want to provide services across the entire European Union must have a license from at least one member state. If they do not have a license, companies will have to scale back or stop operating in the EU.